AGRICULTURE'S STAKE IN RURAL ECONOMIC DEVELOPMENT

Community/Rural/Urban Development,

CIVIC COMMUNITY APPROACHES TO RURAL DEVELOPMENT IN THE SOUTH: DISCUSSION

Community/Rural/Urban Development,

SOUTHERN FARMS AND RURAL COMMUNITIES: DEVELOPING DIRECTIONS FOR ECONOMIC DEVELOPMENT RESEARCH AND POLICY

Community/Rural/Urban Development,

THE IMPACT OF NATURAL GAS PRICE DEREGULATION ON THE SOUTH CAROLINA FOOD PROCESSING SECTORS

Resource /Energy Economics and Policy,

THE IMPACT OF NEW INDUSTRY ON COUNTY GOVERNMENT PROPERTY TAX REVENUE

Public Economics,

Targeting Industry Clusters for Regional Economic Development: An Overview of the REDRL Approach

An industry cluster is a geographically bounded collection of similar and/or related firms that together create competitive advantages for member firms and the local economy. The targeting of economic development programs at industry clusters provides three principal advantages: multiplier effects are stronger, employment growth potential is enhanced, and new firm spin-offs are promoted. The Clemson University Regional Economic Development Research Laboratory (REDRL) targeting method uses a screening process to identify local industry clusters with high potential for future growth. The region’s industries must pass five screens to be selected as a targeted cluster: substantial local presence as indicated by number of establishments and employees, industry employment in the region is growing, the region is relatively specialized in the industry (LQ> 1.0), and local employment growth exceeds the national industry average. Next, industry value chains are identified to determine if linked industries are good prospects for targeting. Finally, the identified high potential industry clusters are rated according to workers’ wages, potential future employment growth, import substitution potential, average plant size, and linkages to the local economy. Comparisons of these industry characteristics provide communities with insights regarding the potential economic and fiscal impacts associated with the attraction of an establishment in one of the target industries. In summary, the industry cluster targeting approach provides community leaders with (1) a list of industries for which they have a reasonable likelihood of attracting and (2) information regarding the likely benefits and costs associated with each industry. As such, a targeting approach permits communities to use their limited industrial development resources more efficiently to meet their industrial development goals.Community/Rural/Urban Development,

ESTIMATING THE COMMUNITY-LEVEL IMPACTS OF ATTRACTING NEW BUSINESSES: THE IMPLICATIONS OF LOCAL LABOR MARKET ADJUSTMENTS

The purpose of this report is to estimate short-and long-run labor market adjustments associated with employment change for South Carolina counties. An appreciation of the source of employees for new jobs enables community leaders to better select the appropriate level of industrial incentives and to better plan for changes in demand for public goods and services. We provide an overview of the components of a local labor force and the implications of component change on local income and expenditures for public goods and services. Then we present the results of the Clemson University Community Policy Analysis (CPAN) Model for county labor markets. This model estimates the allocation of new jobs in a county among the components of a county's labor force. Third, we summarize the concepts of "job chains" and "leakages" and discuss the relationship between these concepts and community-level impacts. Finally, we conclude with a discussion of how insights into labor market adjustments may be used to improve public policy in community planning and industrial development.Labor and Human Capital,

ADVANTAGES AND DISADVANTAGES OF TARGETING INDUSTRY CLUSTERS

Regional industrialization efforts include industrial recruitment, entrepreneurial and small business development, and business retention and expansion programs. Recently, many states and communities have targeted their industrialization programs at specific industries to promote the development of industry clusters. Broadly defined, an industry cluster is a loose, geographically bounded collection of similar and/or related firms that together create competitive advantages for member firms and the regional economy. The purpose of this paper is to summarize the debate concerning the advisability of industry cluster targeting as an employment generation strategy for states and sub-state regions. Our review of the appropriateness of a clusters strategy begins with a summary of industry cluster characteristics. Next we present the potential advantages developed clusters provide regional economies and the difficulties of establishing competitive clusters in new locations. We conclude with a summary of the implications of an industry clusters strategy for regional industrial development.Industrial Organization,

Spatial Labor Markets, New Economic Geography, and Urban-Rural Linkages: Implications for the Rural South

To reach the levels of prosperity in the urban South, rural leaders have a three-fold challenge: to improve human capital, to improve local amenities, and to identify the niche of rural communities in the new economic regions of the South, in other words, spatial labor markets will play a key role. The article first reviews key problems facing rural communities in the South that are likely to cause rural earnings-per-worker and employment opportunities to lag behind those in urban centers. Next, examples are given of the types of empirical and conceptual work needed to examine the role that space plays in shaping the performance of rural labor markets in the South. The concluding section provides a summary and a research agenda for understanding spatial dimensions of rural labor markets in the South

Innovative activity in rural areas: the importance of local and regional characteristics

Innovation, supported by a developed and active entrepreneurial system, long has been recognized as critical to regional economic competitiveness. Innovation also plays an essential role for rural economic development as these regions respond to the challenges of competing in the global economy. Barkley and Henry identify assets that contribute to nonmetro innovation “hot spots.”Community development ; Research and development ; Patents